1

Write a definition of niche markets here:

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Write a definition of mass markets here:

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111 The Market

2

Divide up this circle with as many watch brands as you can think of, use research and ideas from others to

complete the diagram

3

Mass market characteristics

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Mass Markets

Pros Cons

Mass market brands

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4

Niche market characteristics

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Niche Markets

Pros Cons

Niche market brands

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5

Mass or niche markets?

6

Market size

1.______________________________________________________________________

2._____________________________________________________________________

Market share

__________________________________________________________________ x100

Write a definition of a dynamic market here:

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7

Dynamic markets and online retailing

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Advantages and disadvantages of online retailing

Advantages Disadvantages

8

Market growth

• With dynamic markets, comes constantly changing

________________________ tastes and ___________________________________

• Products not used widely 20 years ago:

• Internet

• Mobile Phones

• PC _____________________ for home use

• Computer games / games _______________________

• Technology is a massive ____________________________ market, consider

how many of these items are in most UK households now

• For example, the increase of ___________________________ to the UK has

increased the need for speciality meats such as Kosher and

________________. These are growth markets and great

_____________________________ for business

9

Competition and the market

• Very competitive markets benefit the consumer in a number of ways:

1.

2.

3.

Homogenous markets

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10

The difference between risk and uncertainty

Risk Uncertainty

11

12